BCL Unveils New Headquarters, Business Development & Resource Center

After years of planning, Baltimore Community Lending (BCL) opened its doors in a new location during an Opening and Ribbon Cutting Ceremony of their new headquarters, and the opening of The Frank B. Coakley Business Development & Resource Center (BD&RC) on Wednesday, June 18, 2025. BCL is now located at 301 N. Calvert Street in Baltimore, Maryland, continuing its ongoing commitment.

“Baltimore Community Lending (BCL) supports the revitalization and strengthening of underserved communities throughout the Baltimore metro area through innovative and flexible financial assistance designed to promote community development,” said Watchen Harris Bruce, BCL’s president and CEO. 

Bruce further noted that BCL is a Community Development Financial Institution (CDFI) and mission-based lender serving the Baltimore metro area that is one hundred percent dedicated to delivering responsible, affordable products to help low-income, low-wealth, and other disadvantaged people and communities join the economic mainstream. 

“We are making loans for real estate developers and small business owners committed to developing underserved neighborhoods,” Bruce added.

BCL works with the government, foundations, financial institutions, community stakeholders, anchor institutions, and small business owners early in the planning process to provide small-to-mid-sized capital solutions. Growth has been steady and planned. For instance, BCL acquired the 25,000 square-foot, four-story building located at 301 N. Calvert Street in 2023.

“We are growing and expanding our organization, and we need more space to host staff and offer more services to the community. The first floor of our new building is the [The Frank B. Coakley] Business Development & Resource Center and training center; the second floor is a co-working rental space for small nonprofit organizations and small business incubation. The third and fourth floors of our new headquarters include staff offices and large conference rooms,” Bruce explained.

Bruce stated that BCL is a mission-based certified CDFI offering low-cost, affordable lending products and services to underserved and disinvested communities in the Baltimore region. 

“We offer more than capital to our small business clients and real estate developers. We offer comprehensive business development and wrap-around services to businesses to start and grow,” said Bruce.

“We provide one-on-one free technical assistance and capacity building to prospective clients. We provide loan capital and not grants. We are a nonprofit mission-based lender and not a foundation,” Bruce explained.

Small business funds can be used for working capital, equipment, and inventory for entrepreneurs to start or expand their businesses. Additionally, real estate funds can be used to acquire vacant properties, construction, and permanent loans for affordable housing, community facilities and commercial properties in low-to-moderate communities in Baltimore City; Baltimore County; Harford County; Howard County; Carroll County; and Anne Arundel County. 

Sekwan Merritt, owner of Lightning Electric, runs a commercial electrical contracting company that specializes in lighting, power systems, low voltage, and large-scale infrastructure projects for both public and private clients. The Baltimorean completed all electrical work for the new Baltimore Community Lending headquarters.

“I’m honored to represent what’s possible when local businesses are given a real opportunity,” said Merritt. “This ribbon cutting represents more than just a building opening. It represents economic opportunity and local empowerment. Community members should attend to celebrate a space that will uplift small businesses, provide real resources, and serve as a symbol of what Baltimore can build when we invest in our own.”

Merritt stated that Baltimore Community Lending was the only organization that was willing to take a chance on Lightning Electric when no traditional bank would. 

“BCL stepped up and gave us our first loan, which allowed us to meet payroll and take on new work. They didn’t just provide capital—they believed in us when no one else did.”

 Although BCL named Lightning Electric as a preferred contractor for the new Small Business Development & Resource Center project, the company still had to compete and prove itself like other companies, but BCL gave Lightning Electric the door to walk through, according to Merritt.

“This project became the first major job we’ve ever done with a Baltimore City-connected institution. Their support has been a true turning point for my company.”

Merritt added, “BCL is a lifeline for small businesses in Baltimore. They’re not just lenders; they’re partners.

Visit https://bclending.org to learn more about BCL and its services.